Sunoco LP reported its fourth-quarter and full-year 2025 earnings on Tuesday—the first earnings report reflecting its acquisition of Parkland Corp.
“The fourth quarter marked the end of a transformative and record-setting year for Sunoco,” Scott Grischow, Sunoco’s senior vice president of finance, said on Tuesday’s earnings call. “We closed the Parkland transaction on Oct. 31, and our team is now fully engaged in integration efforts that are progressing well. The partnership delivered record adjusted EBITDA of $706 million in the fourth quarter, excluding approximately $60 million of one-time transaction expenses.”
The $9.1 billion deal of Calgary, Alberta-based Parkland Corp. added more than 200 U.S. convenience stores to Dallas-based Sunoco’s portfolio, in addition to its fuels business and retail and dealer sites outside of the United States.
- Sunoco LP is No. 96 on CSP’s 2025 Top 202 ranking of U.S. convenience-store chains by store count.
Sunoco LP’s net income for the fourth quarter of 2025 was $97 million compared to $141 million in fourth-quarter 2024. Adjusted EBITDA was $646 million in fourth-quarter 2025 compared to $439 million in fourth-quarter 2024. Those quarters included $60 million and $7 million, respectively, in one-time transaction-related expenses, Sunoco reported.
Sunoco LP’s President and CEO Joe Kim in the question-and-answer section of the call also touched on the company’s growth strategy. In its 2026 guidance, Sunoco said it had a multi-year path of bolt-on acquisitions totaling at least $500 million annually.
As to where this growth will occur, Kim said “best projects win.” While the United States is the foundation of their business, they also will look at Europe, as well as in Canada and the Caribbean, where Parkland operated, he said.
“We’re going to grow our midstream business, we’re going to grow our fuel distribution business and we’re going to grow in all of the geographies that we’re in right now,” Kim said. “So that’s the position that we like being in.”
When it comes to growing its c-store business, already in 2026, Sunoco LP acquired 36 stores from Pops Mart Fuel LLC, and its affiliate Sunoco Retail LLC acquired 56 stores from Jernigan Oil.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.